VANCOUVER– Under Justin Trudeau, the average price of a home in Canada has gone up by $300,000 – in Vancouver the price has doubled. Meanwhile, Trudeau welcomed big-money house flippers onto his team and stood back while foreign investors pushed the price of a home out of reach for everyday families. Jagmeet was in Vancouver today to highlight his plan to fix Trudeau’s housing crisis.
“Everyday families are playing by the rules and trying to afford a decent home. But Justin Trudeau is defending predatory house flippers who use our housing market like a stock market and he’s even taking them as candidates,” said Jagmeet. “Mr. Trudeau says he wants to fix the housing crisis but he’s the one who made it worse. Canadians know he’s just going to keep helping the super-rich get richer. I will crack down on house flippers and make wealthy speculators pay their share, so all Canadians can find a home they can afford.”
Justin Trudeau promised to bring in a speculators tax, but he never did. He’s called home-flipping “predatory” but has defended his candidate in Vancouver-Granville who has flipped at least 42 homes since 2005.
Jagmeet Singh would fix Trudeau’s housing crisis by taking the big the money out of housing, making wealthy speculators pay their fair share, and build, renovate and preserve 1.7 million homes over the next four years. Jagmeet would also tax foreign buyers, close loopholes and prevent money laundering from driving up house prices. He would build 500,000 new affordable homes, give renters up to $5,000 in supports and help young people afford their first house.
“This is Trudeau’s housing crisis,” said Jagmeet. “While Mr. Trudeau is looking out for the super-rich, I’m fighting for everyone else,” said Jagmeet. “Canadians can’t afford more of Mr. Trudeau’s empty promises. I will take big money out of housing and help families find a home they can afford.”